Little Change To EU Grains In Thin Trade

Posted by Nogger - a legend in his own mind at 09:44 | Categorized as

24/11/16 -- EU grains closed mixed at the end of a lifeless session, dulled by US markets being closed for Thanksgiving.

At the finish Nov 16 London wheat was unchanged at GBP139.80/tonne, Dec 16 Paris wheat was down EUR0.50/tonne at EUR168.25/tonne, Jan 17 Paris corn ended EUR0.25/tonne firmer at EUR166.50/tonne and Feb 17 Paris rapeseed closed EUR2.00/tonne higher at EUR404.00/tonne.

With America shut fresh news was always likely to be thin on the ground, and so it proved.

EU soft wheat exports reached 481,000 MT this week, up 39% on a week ago and taking the season to date total to 9.4 MMT, a 9% increase on this time a year ago.

EU barley exports were only 51,000 MT, down 55% on last week.

Russia reported their 2016 corn harvest to be 79.6% complete at 13.3 MMT. The last of the spring wheat and barley harvests are also still being wrapped up.

Russian winter plantings for the 2017 harvest are just about done on 17.3 million ha, with crops mostly covered by a thin layer of snow.

This is around 1 million ha more than last year and a new record high, say Agritel. Winter wheat will consist of around 14 million ha of this total, they say.

The euro remains weak, supporting Paris grains. The pound hovers around 1.1750 versus the single currency - a 2 1/2 month high.

US markets remain closed Friday morning but will trade a holiday-shortened session Friday afternoon (London time).